How Much Outdated Technology Can Cost Your Business

When running a small business, there can be a tendency to save on tech costs. However, this could actually hamper long-term growth

Buying all new tech for your business sounds intimidatingly expensive – but it may not be as expensive as sticking with the old tech you already have lying around. Squeezing a few more years out of your old computers isn’t thrifty – it can actually be dangerous.

If you’re looking for reasons to justify the costs of a major technology overhaul, you’ll find that there’s no shortage of them. There’s no better way to save money and make your business better than by making the jump to better equipment.

It consumes more power

Newer tech is designed with environmental concerns in mind. Optimized performance allows newer tech to perform to its highest potential without drawing up as much power. Not only is this great for the planet, it’s also great for your wallet.

When you think about long term savings on your energy bills, it quickly becomes clear that new tech can pay for itself – at least partially. This is great for both budget concerns and eco-friendly initiatives that are sweeping the modern office environment.

It reduces productivity

If it takes something 30 seconds to load, that’s 30 seconds of time your employee has wasted. It may not seem like a big deal when you consider such a small amount of time, but you need to consider how often your employees need emails to load and programs to respond.

Before you know it, half an hour went out the window. If you have 40 employees each waiting a total of 30 minutes a day for a slow computer to do what they need it to do, that’s 20 hours of lost productivity a day, or 100 hours in a five day business week. Imagine how much more you could be doing if your computers were as fast as they should be.

It kills convenience

How often do your employees need to say “Let me run in the back and check for you”? Wouldn’t it be great if your employees could reference everything immediately, while they were in conversation with a customer?

Instant answers give customers the highest level of convenience. You’re providing them with better service and a memorable experience. Great customer service keeps customers coming back. If you don’t already have tablets available, getting a few for the office will make things better for everyone.

It’s less safe

Older hardware is sometimes incapable of handling the newest software. Since antivirus and malware protection software is constantly being updated to handle the newest threats, the highest safety measures can outgrow what you have to work with.

Data breeches and destroyed equipment are costly. Many businesses fold after a disaster, and upgrading to newer, safer technology makes it a lot less likely that your business will find itself in such a position.

It hinders growth

You probably designed your tech infrastructure to handle the amount of employees you started out with, plus a few more you anticipated would join up with your business along the way. How many more employees do you have now? You could be overwhelming your equipment.

Better tech can help your business expand. Switching to cloud computing and mobile devices can even allow employees to work remotely, which means they’ll be able to get more accomplished while they’re away on a business trip. Technology can extend barriers.

On a closing note, it’s important to remember that the life of business technology should usually be around five years. After that, things become obsolete. If you’ve had the same computers for more than half a decade, you’re long overdue for a switch.

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